Norwegian Petroleum Directorate (NPD) has reported that current recoverable oil from Norway Continental Shelf has exceeded the estimated figure given a decade ago. A select number of producing fields and 62 discoveries, for which development decisions had not been made in 2005, were reviewed in order to determine the latest figures.
Over the years, 28 of these discoveries were developed and their oil reserves have nearly doubled. Oil industry analyst at the research firm indicated that the reserves could potentially add $106 billion to Norway's oil and gas industry revenues. (rigzone)
As new technologies emerge for optimum exploration and exploitation processes, so should the environment be greatly considered.
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